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Retirement planning is all about securing your future, and it takes focus and intention to get it right.
At Health Risk Services, we’re here to help you craft an AWESOME plan that supports you when it truly matters. With deep expertise in working alongside Indigenous communities and their members, we’re committed to helping you build a foundation for a secure and confident financial future.
We have extensive experience ensuring that pensions derived from tax-exempt income (e.g., income earned on reserve) remain tax-exempt during retirements. We can also provide guidance in regards to accessing funds during times of financial hardship.
Acting on behalf of our clients, we mediate directly with RPP carriers to confirm that your tax-exempt status is accurately reflected in your payments.
If any issues arise with your RPP provider, such as incorrect tax deductions, our team is here to resolve them quickly and efficiently.
We assist in rolling over your RPP into other tax-exempt investment vehicles like RLIFs or LIRAs, ensuring your funds remain protected and grow tax-free.
Important questions when planning for your retirement and managing your pension plan.
Roll over your Registered Pension Plan (RPP) from a prior employer into an individual investment vehicle
For those facing financial hardships, access to funds from pension rollovers when it's most needed, providing a lifeline during challenging times. Ensuring these funds remain tax exempt.
Reinvest your locked-in pension funds and balance your immediate financial needs with long-term stability
Navigate Pension rollovers and income fund options so you can start drawing an income when you reach appropriate age
Gain access to flexible financial stategies tailored to your unique needs.
At Health Risk Services, we are dedicated to providing full-service pension support for First Nations communities. Our approach goes beyond standard service—we take the time to connect with your members, ensuring they fully understand their benefit policies and feel confident in using them.
1. Frequent On-Site Visits:
We believe in building strong relationships through regular in-person visits. This allows us to provide hands-on support and address any questions or concerns promptly.
2. Educational Seminars for Employees and Employers:
Understanding a pension plan is key to making the most of it. We offer tailored educational sessions to ensure both employees and employers know:
• What the pension policy covers
• How to access pensions
• Any additional resources or features available
3. Personalized Member Support:
We spend time with your members to ensure they know how their pensions work, what’s covered, and how to access services. This personalized approach helps maximize the value of their pensions.
4. Plan Administrator Assistance:
We work closely with your plan administrators to streamline enrollment processes, provide training, and offer ongoing support to make managing the pension plan as efficient as possible.
1. Comprehensive Service:
From plan design to education, enrollment, and ongoing support, we are here every step of the way.
2. Focus on Engagement:
Our frequent visits and hands-on approach ensure members and administrators feel supported and empowered.
3. Customized Solutions:
We tailor our approach to fit the unique needs of each First Nation community we serve.
4. Deep Knowledge of Indigenous Tax Exemptions:
We understand the unique tax regulations and rights for First Nation members and work diligently to ensure compliance.
5. Hands-On Support:
From start to finish, we handle all communication with RPP carriers to simplify the process for you.
6. Tailored Solutions:
Our services are customized to meet your financial needs while preserving your tax-exempt benefits
Personal and family insurance coverage can be complex and confusing, but it’s important not to overlook its significance. Whether you’re single or have a family, finding the right insurance policies is crucial for your financial well-being. Every individual has unique needs, so there is no one-size-fits-all solution. Your insurance portfolio should be tailored to your specific circumstances and protection requirements.
A Registered Pension Plan (RPP) is a retirement savings program established by employers to help employees save for retirement. Contributions are made by the employee, employer, or both, and the funds grow tax-exempt and remain tax-exempt at withdrawal.
Yes, pensions can be tax-exempt if they are derived from income earned on a reserve or other qualifying tax-exempt income. At Health Risk Services, we ensure members receive their pensions tax-exempt by working directly with the carriers and confirming compliance with tax regulations.
Yes, in certain cases of financial hardship, you may be eligible to access your RPP funds early. We can help you navigate this process and explore your options, provided you have a statement of options (SOO).
*For the calendar year of 2024 the maximum financial hardship withdrawal amount is $34,250. (tax-exempt)
If you leave your employer, you can roll over your RPP funds into an individual tax-exempt investment vehicle such as a Locked-In Retirement Account (LIRA) or a Restricted Life Income Fund (RLIF). This ensures your funds remain protected and continue to grow tax-free.
*If you are 55+ years, you are eligible for a one time unlocking of up to 50% of your funds (RLIF)
A rollover transfers your pension savings from one plan to another without triggering taxes or penalties. This is important for maintaining the tax-exempt status of your funds while giving you control over your retirement savings.
Your pension plan documents outline contributions, retirement benefits, and any additional options. At Health Risk Services, we provide educational seminars and personalized support to ensure members understand their plan fully.
We respectfully acknowledge that we are located on the traditional territories of many First Nations, Métis, and Inuit peoples who have cared for this land for generations. We honour their histories, languages, cultures, and ongoing contributions to our shared communities.
